Stuve Gold Corp. Announces Closing of Private Placement of Units

Executive Summary

• Stuve Gold Corp. completed a non‑brokered private placement of 12,500,000 units at $0.24 per unit, raising $3,000,000 in gross proceeds.
• Each unit consists of one common share and half of a common‑share purchase warrant (exercise price $0.38); broker warrants were also issued with an aggregate cash commission of $105,302.64.
• Net proceeds are earmarked for exploration on the Las Animas property ($1 M), other existing properties ($1.5 M), possible acquisitions, debt repayment, and general working capital (up to $394,697.36).

Key Details

• Units Issued: 12,500,000 at $0.24 per unit → $3,000,000 gross proceeds.
• Unit Composition: 1 common share + ½ common‑share purchase warrant (full warrant allows purchase of one common share at $0.38 for 1 year).
• Broker Warrants: 438,761 broker warrants issued; each exercisable at $0.24 per share for 1 year.
• Cash Commissions Paid: $105,302.64 to qualified non‑related parties.
• Use of Proceeds:
• Exploration – Las Animas property: $1,000,000
• Exploration – other existing properties: $1,500,000
• Acquisition opportunities, debt repayment, and general working capital: up to $394,697.36.
• Hold Period: Securities subject to a four‑month plus one‑day hold period.
• Related Party Participation: One insider subscribed for 40,000 units (0.32% of the offering), raising its non‑diluted ownership to 0.44%.
• Regulatory Status: Offering pending final acceptance by the TSX Venture Exchange; exempt from MI 61‑101 valuation and minority‑shareholder approval requirements because consideration per party did not exceed $2,500,000.
• Board Approval: Unanimously approved by the board of directors, including non‑subscribing directors.

Notable Quotes

(No direct quotes were provided in the release.)